MOVADO GROUP INC
For the period ended Jul 31, 2024. Filed Sep 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jul 31, 2024 · Filed Sep 5, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the Quarterly Period Ended July 31,2024
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission File Number:1-16497
(Exact Name of Registrant as Specified in its Charter)
| New York | 13-2595932 |
|---|---|
| (State or Other Jurisdictionof Incorporation or Organization) | (IRS EmployerIdentification No.) |
| 650 From Road, Ste. 375Paramus, New Jersey | 07652-3556 |
| (Address of Principal Executive Offices) | (Zip Code) |
(201)267-8000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | TradingSymbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.01 per share | MOV | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for that past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,’’ “accelerated filer,’’ “smaller reporting company,’’ and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☒ | Non-accelerated filer | ☐ |
|---|---|---|---|---|---|
| Smaller reporting company | ☐ | Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒
The number of shares outstanding of the registrant’s Common Stock and Class A Common Stock as of August 30, 2024 were 15,763,218 and 6,458,376 respectively.
Index to Quarterly Report on Form 10-Q
July 31, 2024
| Page | |||
|---|---|---|---|
| Part I | Financial Information (Unaudited) | ||
| Item 1. | Consolidated Balance Sheets at July 31, 2024, January 31, 2024 and July 31, 2023 | 3 | |
| Consolidated Statements of Operations for the three and six months ended July 31, 2024 and July 31, 2023 | 4 | ||
| Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended July 31, 2024 and July 31, 2023 | 5 | ||
| Consolidated Statements of Cash Flows for the six months ended July 31, 2024 and July 31, 2023 | 6 | ||
| Notes to Consolidated Financial Statements | 7 | ||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 20 | |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 29 | |
| Item 4. | Controls and Procedures | 30 | |
| Part II | Other Information | ||
| Item 1. | Legal Proceedings | 31 | |
| Item 1A. | Risk Factors | 31 | |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 31 | |
| Item 5. | Other Information | 32 | |
| Item 6. | Exhibits | 33 | |
| Signature | 34 | ||
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.